This study investigated government speculation on spillover effect in the housing market based on a quasi-experiment related to the house purchase restriction (HPR) policy in China. Using a difference-in-differences research method and the HPR policy applying between 2016 and 2017 in China, this...

This paper analyses firms' bidding in auctions for development land in Hong Kong. The real estate market in Hong Kong is considered to be oligopolistic as it is dominated by a few top real estate firms, which have strong financial strength/development capacity and large land banks. Joint bidding...

This study examines how overpricing of properties (in terms of above-market price), along with various housing attributes, influence their time-on-market (TOM). The results with the full sample show that only dummy variables depicting years 2003-2005 and flats located in Kowloon significantly...

The residential property market is characterized with cyclical price movements and long development lead-time. Developers are faced with challenging decisions such as the optimal timing and density of their projects in order to ride the boom-bust cycles. The increasingly important role of market...

This paper examines twenty-seven international real estate securities indices from twenty countries and regions for calendar effects. Two methodologies are employed. The first is the standard approach which detects statistically significant anomalies via linear regression of returns. The second,...